FIGURES & DATA
To what extent do fiscal spending rules affect budget composition?
https://doi.org/10.3326/pse.42.3.5 | Published online: September 3, 2018
Italian municipalities’ consumption, investment and total spending as a percentage of GDP
Fiscal rules imposed by the Domestic Stability Pact on Italian municipalities
Source: Ministry of Economics and Finance – Financial laws.
Level of Consumption over Investment for municipalities under 5,000 inhabitants (Group A) and above (Group B)
Descriptive statistics. Budget items used in the analysis by group, average of the period 2004-2006 (euro per capita)
Notes: In Group A, there are municipalities with a number of inhabitants in the range 3,000-4,999, while in Group B the range is 5,000-7,000.
Effects of the Domestic Stability Pact on budget items
Notes: Case A considers t1 and t2 while Case B analyses t2 and t3. The estimations are performed implementing a local linear regression method. Values are in euro per capita. Robust standard errors are reported in parenthesis, clustered at the provincial level. *** (**, *) indicates statistical significance at the 1 (5, 10) percent level.
Difference-in-discontinuities on consumption and investment spending, Case A (t1 and t2) and Case B (t2 and t3)
Difference-in-discontinuities on wages, services, infrastructure and new debt, Case B (t2 and t3)
Effects of the Domestic Stability Pact on budget items, robustness analysis in Case B
Notes: Case B refers to municipalities between 3,000 and 7,000 inhabitants in the period t2 and t3. The estimations are performed implementing a local linear regression (LLR) method with a bandwidth (b) equal to 1,500. SPA is the spline polynomial approximation method of order 2 and the analysis is performed considering municipalities between 3,000 and 7,000 inhabitants. Values are in euro per capita. Robust standard errors are reported in parentheses, clustered at
the Provincial level. *** (**, *) indicates statistical significance at the 1 (5, 10) percent level.
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